Watching for a short in the Yen

The modest rally in the Yen that we predicted in our February post has advanced nicely. Now price is approaching the area we have been watching for a downward turn.

Yen futures and ETF (FXY) 2017-04-27

The yen has been moving up the first part of this year as expected but should be nearing an inflection either in May or June. The ideal cycle high is in June but we need to be alert for a high...